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AVIDA GROUP and Detlef Mackewicz found Germany's 1st provider of managed accounts for private equity


Munich/Düsseldorf, March 1, 2005 - AVIDA Group is merging its experience as an institutional investor and manager of private equity funds with Detlef Mackewicz's market expertise to found AVIDA Advisers GmbH. Effective as of March 1, 2005, Mr. Mackewicz will be transferring from his company Mackewicz & Partner to AVIDA Advisers, where he will be in charge of 'Managed Account Activities' as a Managing Partner.

With AVIDA Advisers GmbH, AVIDA Group and Mr. Mackewicz will concentrate on consulting and advising institutional investors from German-speaking countries in the asset class of private equity investments. Along with classic capital market investments such as equities, bonds and real estate, private equity is becoming an increasingly important investment class for institutional investors such as pension funds, corporate pension funds and family offices. Investors' growing interest in expanding and broadening their range of diversified investments in private equity is based on the particularly attractive risk/return profile. In reflection of institutional investors' various investment needs and the complexity of private equity, AVIDA Advisers' managed account services allow investors to harness AVIDA's expertise in developing tailor-made solutions and to collaborate in all aspects of the investment process, if desired.

AVIDA Group, previously the private equity arm of the ERGO Insurance Group, Germany's second largest insurance company, has also set up and developed its own primary funds in which mainly non-group institutional investors have invested capital. AVIDA Group evolved from ERGO Equity Partner AG, which was spun off from ERGO Insurance Group in the summer of 2004. Due to the management buy-out AVIDA Group's partners now include the management and an international investor consortium consisting of private asset management companies and CDC Entreprises SAS, the private equity arm of the French Caisse des Dépôts Group, with EUR 3.8 billion in private equity participations.

Detlef Mackewicz has over ten years of experience in the private equity sector as the founder of Mackewicz & Partner. With his analyses and studies, he has made a valuable contribution to fostering a better understanding of and increased transparency in private equity as an investment category. Other achievements include foundation of the Venture Capital Panel, development of a fund rating model which is proven in practice and support and consulting for numerous renowned institutional investors. In particular, he has assisted major investors in launching their private equity investment activities, provided expert advice on fund selection and prepared the relevant due diligence reports.

According to Clemens von Berger, Managing Partner and CEO of AVIDA Group, 'In contrast to the practice of recent years, private equity investment must be approached with the same critical expertise that is applied for investments in equities, bonds or real estate, in order to be able to justify long-term investments in this investment category, which is complex but offers excellent returns. Therefore, AVIDA Group focuses both on the management of private equity, i.e. the level where value generation occurs, as well as on advising the actual market players, the investors themselves, who usually bear the risks involved in full.'

As Mr. Mackewicz explained, 'In general, the institutional investors who first developed private equity allocation in the 1990s either chose umbrella funds or engaged in somewhat opportunistic 'fund picking', rather than selecting the best performing funds based on a systematic, structured approach.'

Compared to a 'fund of funds', with a managed account the investor is more actively involved in the process. The investor influences the structure and composition of his portfolio and reaches the investment decisions together with the Account Manager. Usually, partnerships of this nature are agreed upon for an initial period<


Publisher Contact Information:

AVIDA Advisers GmbH
+49 (0)211 13 608 450
dbrand@avida-group.com

Company profile of AVIDA Advisers GmbH
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